German Dax Benefits Building on Support

The support levels published during the previous analysis, represented by our required target of 15,480, were able to limit the bearish bias, which forced the German DAX to trade positively, benefiting from touching our awaited target.

Technically, we find the 50-day moving average that supports the rise, in addition to the stability of the intraday trading above 15,620, and therefore we may witness a bullish bias during the coming hours, provided that we confirm the breach of 15,720, targeting 15,780, a first target that may extend later to visit 15,860.

Only from below, the return of stability below 15,620 postpones the chances of rising, and we witness a retest of the support level 15,550 before attempts to rise again. Note: The risk level is high.

S1: 15550	R1: 15780
S2:  15395	R2: 15860
S3: 15320	R3: 16020